User Account

All Pages

Find and prepare appropriate journal entries for december

Assignment Help Accounting Basics
Reference no: EM132767011

On January 1, 2019, Sweet Corporation acquires a building at a cost of $270,000. The building is expected to have a 30-year life and no residual value. The asset is accounted for using the proportionate revaluation method and revaluation is carried out every two years. On December 31, 2020, the fair value of the building is appraised at $264,600 and on December 31, 2022 its fair value is $234,000.

Required

Problem 1: Prepare the appropriate journal entries for December 31, 2020 and December 31, 2022. Assume depreciation has already been properly recorded.

Reference no: EM132767011

Questions Cloud

Prepare all journal entries to account for the investment : At December 31, 2019 the bond has a fair value of $910,000.Prepare all of the 2019 journal entries to account for this investment.
Discussing sqlmap and an automated tool for sql injection : Write an essay discussing sqlmap, an automated tool for sql injection and database takeover in 500 words or more. Why do we need an automated tool for sql.
Prepare the journal entry to record the acquisition of bond : 10-year bond to yield 12% with interest paid on June 30 and December 31. Prepare the journal entry to record the acquisition of the bond on January 1, 2017
How an operating system manages processes and threads : The control of processes and threads are of deep concern by developers of all operating systems capable of handling "real or emulated" simultaneous computer.
Find and prepare appropriate journal entries for december : Prepare the appropriate journal entries for December 31, 2020 and December 31, 2022. Assume depreciation has already been properly recorded.
Define the term internal partnering : a) Define the term partnering. Provide an example with relevant explanation.
What is the amount of anne self-employment tax : Anne has wages of $75,000 and net income from a small unincorporated business of $50,000 for 2020. What is the amount of Anne self-employment tax
Compare internal and external validity : In research, the threat of internal and external validity is commonly discussed. However, some researchers view one more important than the other.
Solve the depreciation expense for each of the property : Solve the 2020 and 2021 depreciation expense for each of the property, plant & equipment items. Show details of all calculations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd